I apologize if such a thread was started already. I did search but I couldnt find anything. A gentlemen on craigslist told me that he knows someone that has a fake coin, that is in Fine shape. He is asking $200 for it. Is such a coin worth that much ? For purchasing coins, Ive been using the PCGS website to compare prices and grades. The original lists for over $800 in that grade. I know coin collecting ultimately is in the "eye of the beholder" and if something is worth a certain amount to someone, and they are happy with it, then more power to them. When it comes to silver hoarding, Im hoarding it in hopes of making a profit someday. But collecting coins is for pleasure, FOR THE MOST PART. When it comes to single items like that I think twice about purchasing them. I would hate to find out a few years from now its worth $15, if such an item is worth $200 today. Whats your thoughts on this ?
Even if it's a 1909-s with an added mintmark, it's at best a damaged coin. I don't think discussing the purchase of counterfeit US coinage online is a good idea either.
DO NOT BUY IT!!!! A fake coin will always be fake and it will not go up in value at all. At $200, this is a rip off, even if it is a "good" fake. You are better off buying a genuine, damaged, AG details coin, which if you look hard enough, you can probably find one for not much more than the $200 asking price this seller wants for a fake one. He probably ordered a bag of them from China for $1/piece.
Thanks for the responses and the truth is I wasnt really even considering it. But it is an option and I wanted some feedback on the subject. And as far as topics on the internet is concerned, nothing in my eyes are "off limits", as long as its legal.
Again, I didnt say I was purchasing anything. Im saying someone offered such an item. Its a discussion.
There is nothing illegal about discussing anything, as long as its not threathening anyone, and even then its not illegal. I live in New York City, I purchase fake water if I wanted to.
I've noticed some sellers will try to sell counterfeit coins at a premium. After all, there is a collectors' market for counterfeits. But I believe some of those sellers are banking on unscrupulous buyers, who are planning to sell the counterfeit item advertised as authentic. Those buyers might be willing to pay a small premium in hopes of making a much larger one. It's a game of greed and dishonesty.
Yeah, sometimes it is. But there are examples where a known and declared counterfeit will sell for more than a genuine example of the same coin. And there is no dishonesty on the seller's part, or inexperience on the buyer's part involved.
Just to clarify, the person did not post an ad for that coin. He was selling silver bullion coins and mentioned it to me on the phone.
